Learn more about Super Bitcoin.
UPDATE 27 January 2021: When trying to find the project website of Super Bitcoin project today, we were unsuccessful. Considering a number of different circumstances in relation to this project, we can't draw any other conclusion than that the project has closed down.
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Super Bitcoin Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Super Bitcoin.
What is Super Bitcoin?
Super Bitcoin (SBTC) is a proposed development to Bitcoin. The official development team’s website describes SBTC as “an experiment, trying to execute promising solutions that the community has been proposing.” Super Bitcoin wants to apply all of these changes into Bitcoin, making it a “Super Bitcoin”.
SBTC launched on 17 December 2017 at block 498888.
Ranger Shi (Chief Scientist), Li Xiao Lai (Foundation Member), and JaiPeng Lin (Foundation Member) are Super Bitcoin’s project leaders.
How Does SBTC Work?
There will be a total supply of 21,210,000 SBTC, with 210,000 being pre-mined. The pre-mined SBTC shall be managed by the foundation behind SBTC to support the early developers and invest in ecological construction. Fundamentally, the objective is to generate a version of Bitcoin with smart contract support. Moreover, the development team believes that Bitcoin has lost too much market share to competitors like Ethereum over the recent years. Ethereum has smart contracts, while Bitcoin does not. Also, smart contracts make Ethereum the perfect platform for decentralized apps, while Bitcoin does not have decentralized apps.
The SBTC observes the lack of smart contract functionality as an issue. To solve that issue, they want to add smart contracts and most other key features into the Super Bitcoin.
Apart from four massive improvements, we have no information about how SBTC plans to achieve these objectives. The company has not published a whitepaper online. They have provided a timeline of their development goals, but we do not have much information relating to that. It is difficult to follow how compliant the team is in following the timeline.
Super Bitcoin Features
- Smart Contracts
- Lightning Network
- Zero Knowledge Proofs
- Bigger Blocks
Essentially, SBTC wants to concurrently execute every protocol that’s been launched for Bitcoin in the last few years. They do not plan on launching all of these at once. But they do plan to launch them in the near future. It will be very interesting to see if they succeed in their ventures.